non fungible tokens blockchain! Get clued up on non-fungible tokens (NFTs) and blockchain today with this simple-to-follow guide for rookies. Everything you need to know explained in minutes!
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Non-fungible tokens, or NFTs, are like special stickers that you can buy and sell on the internet. But unlike regular stickers, NFTs are one-of-a-kind and can’t be replaced by something else.
Imagine you and your friends are collecting stickers.
You all have a big book where you stick them, and you trade stickers with each other to try and complete your collection.
But one day, your friend shows you a special kind of sticker that is different from all the others.
This sticker is called a non-fungible token, or NFT.
NFTs are special because they’re one-of-a-kind.
Just like how no two snowflakes are the same, no two NFTs are the same either.
And just like how a snowflake is unique and can’t be replaced by another snowflake, an NFT is also unique and can’t be replaced by another NFT.
So this makes NFTs very valuable. If you have a unique NFT, it means you’re the only person in the world who has it. And because it’s unique, it can’t be replaced by something else. This makes it special and valuable.
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NFTs are created by artists and creators who want to give their work a unique value.
For example, a digital artist might create an NFT of a digital painting, and then put it up for sale.
If someone buys the NFT, they will own the one and only version of that painting.
They can keep it, show it off to their friends, or even sell it to someone else for more money.
NFTs are also used for other things like virtual real estate, virtual items in video games and even tweets on social media. So In the virtual world, NFTs can be used to prove ownership and authenticity of unique digital assets.
But Non-fungible tokens (NFTs) are like special stickers that you can buy and sell on the internet.
They are unique and one-of-a-kind, and can’t be replaced by something else.
So they are used to prove ownership and authenticity of digital assets and can be used for different things like digital art,
virtual real estate, virtual items in video games and tweets on social media. NFTs are valuable because they are unique,
and as such, they can’t be replaced.